estate agent agreement
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estate agent agreement
Is it normal for the agreement between estate agent and seller to stipulate that the agent's 5% commission is to be paid as soon as contracts have been signed and not when the buyer has actually paid the seller?
Re: estate agent agreement
It is not normal, some agents put in what they want, if you are not happy with this, tell them to change it and specify to be paid once the transfer has been made. if they don't then don't use them. There are a number of reasons a deal can collapse even at the last minute, and how can you pay them when you have not received the proceeds of the sale.Andrew Hatch wrote: ↑19 Mar 2019 11:12 Is it normal for the agreement between estate agent and seller to stipulate that the agent's 5% commission is to be paid as soon as contracts have been signed and not when the buyer has actually paid the seller?
An agreement is just that, if you don't agree don't sign, there are other agents that will deal for you.
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FSB Properties Ltd
Registered and Licensed Real Estate Company. Reg. No. 1145, Lic. No. 572/E
Member of ETEK Registration No. A201999
https://www.fsbproperties.com
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- Posts: 7
- Joined: 19 Feb 2019 14:42
Re: estate agent agreement
Thanks Pantheman.
It does seem logical that the agent's payment will only be possible once the buyer has paid the seller so an agreement where an agent puts in "what they want" is a concern.
Limassol
It does seem logical that the agent's payment will only be possible once the buyer has paid the seller so an agreement where an agent puts in "what they want" is a concern.
Limassol
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Re: estate agent agreement
Hi Andrew
Look at it this way - would you pay an estate agent in the UK his commission before the sale had gone through and you'd received the money?
Regards,
Look at it this way - would you pay an estate agent in the UK his commission before the sale had gone through and you'd received the money?
Regards,
Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
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Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news